MarketWatch
Here’s the comment from Powell that could make it hard for the Fed to slow down the pace of interest-rate hikes
The Friday before the Federal Reserve’s interest-rate decision will be most remembered for the surprise acceleration in consumer prices, which took inflation to a fresh 40-year high. “We got the CPI data and also some data on inflation expectations late last week, and we thought for a while, and we thought this is the appropriate thing to do,” Powell said of the decision to hike by 75 basis points instead of the 50-point hike he previously suggested. “The preliminary University of Michigan reading — it’s a preliminary reading, it might be revised — nonetheless, it was quite eye-catching, and we noticed that,” he said.
